PracticeAuditTesco accused of using “aggressive” accounting policies

Tesco accused of using "aggressive" accounting policies

Tesco defends accounting treatment

Supermarket giant Tesco has defended its accounting treatment after an
analyst said the company was operating “aggressive” accounting policies.

A Citi analyst said Tesco had a “more aggressive policy” than its competitors
in the areas of revenue recognition, depreciation, the allocation of profits
from property, capitalised interest expenses and pension accounting.

The analyst found that the effect of these policies is that they “render the
[profit & loss] bottom line significantly different from what a peer company
might report”, according to The Independent.

Tesco has defended its statements which it said it auided by
PricewaterhouseCoopers.

Further reading:

Tesco
numbers game spooks investors

Market
Report: Tesco declines as broker compares it to peers

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